UNCTAD participation at General Assembly ad hoc committee on sovereign debt restructuring processes - Second working session

28 - 30 avril 2015
UN Headquarters
New York

Under UN GA Draft Resolution A/C.2/69/L.4 of 14 October 2014, UNCTAD has been entrusted with the task of sharing its expertise on sovereign debt in accordance with its general mandate. UNCTAD is the UN focal point on debt issues.

UNCTAD has been working on principles for a debt workout mechanism since 2013 and is currently elaborating a Debt Workout Roadmap that could benefit the work of the Ad Hoc Committee.


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The second working session of the ad hoc committee on sovereign debt restructuring processes will gather Member States and observers. During this event, participants will discuss principles and elements that should form the basis of a legal framework for debt restructuring processes.

Issues to be discussed:

  • Guiding Principles: Legitimacy, Impartiality, Transparency, Good Faith and Sustainability

  • Latest developments in contractual approach and why it is not enough

  • Problems of Litigation against Heavily Indebted Poor Countries (HIPCs)

  • Potential for a hybrid approach and building consensus around it

  • The negative role of vulture funds

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28 Apr 2015

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For further information on the work of the Ad hoc Committee please contact Mr. Dusan Zivkovic (email: or Mr. Jiaming Miao (e-mail:, tel. (212) 963-3766).
Additional information will also be available on the following web site:
If you do not have a valid UN grounds pass, please register here before 27 April or contact Ms. Maria Ahmed (email: for any further information.